Purchased 2 months ago for $5,000. 126,xxx miles. a little wear on interior but clean for the most part. The ICM display does only half display/half black. Exterior looks great with a few small blemishes in paint, some curb damage to rims, and small denting around driver rear wheel well. I just found coolant in the oil and at this point pretty certain it's a blown or leaking gasket. Quoting $3,000 from all the local dealers, with a few small slightly sketchier shops quoting $1,750+.
Should I try and rebuild at the cost of another $3,000 or just try to sell/ trade in and start with something else?
I also still owe $3,000 on the car as is.. =/

 

I'd find a good independent familiar with Volvos or foreign cars. It could be a head gasket or possibly a turbo with blown seals. Did you have mechanic run any tests? Replacing the head gasket is not the worst - but you need to find out if the head is good (ie not warped and not cracked). The value of the car is going to be book minus what a shop would charge you - you may get a DIY person do buy the car at that price but figure on getting $2000 for the car with a bad engine - then you have to pay off the loan etc. If you get the car repaired, then you can consider selling and moving on too.

 

sounds like my problem! bought 96 850 radiator blows on way home from buyin gtags and after replacing the radiator figure out its a blown head gasket- IDK what to do